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Economic Instruments and Their Revenue Expenditures Toward Green Asia

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Energy Transitions and Climate Change Issues in Asia

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Abstract

Asian countries have been facing various environmental problems, ranging from air and water pollution to climate change. At the same time, many people seek higher income and further economic development, which requires more government revenue. This paper introduces carbon pricing, environmental tax, and emissions trading schemes, all schemes that can help achieve the two objectives: environmental conservation and revenue raising. The paper reviews experiences from the implementation of these policy instruments from the perspective of raising revenue and the effectiveness in environmental conservation with focus on Asia. Specifically, the experiences in India, Japan, the Republic of Korea, the People’s Republic of China, and Singapore show that governments can raise revenue while reducing emissions. We conclude our paper with policy implications.

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Notes

  1. 1.

    https://www.nccs.gov.sg/media/publications/singapores-national-communications-and-biennial-update-reports.

  2. 2.

    Source: Carbon tax revenue is from https://www.statista.com/statistics/1241742/carbon-tax-revenues-worldwide-by-selected-country/. The amount of carbon tax collection was S$197.6 million ($147.3 million) according to Haver. The total tax revenue is from https://data.gov.sg/dataset/iras-collection-by-tax-type-annual.

  3. 3.

    Cess can be defined as a specific form of tax levied by the government over the base tax liability of the taxpayer, for revenue generation for any specific purposes.

  4. 4.

    https://icapcarbonaction.com/en/?option=com_etsmap&task=export&format=pdf&layout=list&systems%5b%5d=46.

  5. 5.

    https://carbonpricingdashboard.worldbank.org/map_data.

  6. 6.

    The economic agent with inelastic demand (or supply) bears tax burden most, while an agent with elastic demand (or supply) can avoid or bears the least (tax) burden. Thus, while higher price (induced by tax) may be effective for correcting the externality and internalizing the cost (on society), this has direct effect on household budget and, subsequently, the welfare of the households.

  7. 7.

    https://www.ema.gov.sg/cmsmedia/8RSU.pdf.

  8. 8.

    https://www.e-stat.go.jp/statsearch/files?page=1&layout=datalist&toukei=00200561&tstat=000000330001&cycle=7&tclass1=000000330001&tclass2=000000330019&tclass3=000000330020&tclass4val=0.

  9. 9.

    We must mention that there may be backlash against carbon taxes, even when the tax increase is gradual (e.g., Yellow Jackets movement in France).

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Acknowledgements

We are grateful to Makoto Sugino, Aline Mortha, and Yukie Iwatsuka for comments and research assistance for this version. We also appreciate the comments from the reviewers of the first draft and the participants in the Asian Development Outlook workshop.

Funding

Toshi H. Arimura appreciated the financial support from JSPS KAKENHI Grant Number JP21H04945 and the Foundation of Japanese Bankers.

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Authors and Affiliations

  1. Faculty of Political Science and Economics, Waseda University, Tokyo, 169-8050, Japan

    Toshi H. Arimura & Ngawang Dendup

  2. Research Institute for Environmental Economics and Management, Waseda University, Tokyo, 169-8050, Japan

    Toshi H. Arimura, Mriduchhanda Chattopadhyay & Ngawang Dendup

  3. Postgraduate Department of Economics, St. Xavier’s College (Autonomous) Kolkata, Kolkata, 700016, India

    Mriduchhanda Chattopadhyay

  4. Asian Development Bank, Mandaluyong, Philippines

    Shu Grace Tian

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Editors and Affiliations

  1. Faculty of Economics, Meijo University, Nagoya City, Japan

    Soocheol Lee

  2. Environmental Sciences and Engineering, Peking University, Beijing, China

    Shiqiu Zhang

  3. Graduate School of Environmental Studies, Seoul National University, Gwanak-Gu, Seoul, Korea (Republic of)

    Jong Ho Hong

  4. School of Economics, Sukhothai Thammatirat Open University, Nonthaburi, Thailand

    Orapan Nabangchang-Srisawalak

  5. Faculty of Social Sciences, Waseda University, Tokyo, Tokyo, Japan

    Ken-Ichi Akao

  6. Crawford School of Public Policy, Australian National University, Acton, ACT, ACT, Australia

    Budy Prasetyo Resosudarmo

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Arimura, T.H., Chattopadhyay, M., Dendup, N., Tian, S.G. (2024). Economic Instruments and Their Revenue Expenditures Toward Green Asia. In: Lee, S., Zhang, S., Hong, J.H., Nabangchang-Srisawalak, O., Akao, KI., Resosudarmo, B.P. (eds) Energy Transitions and Climate Change Issues in Asia. Springer, Singapore. https://doi.org/10.1007/978-981-97-1773-6_4

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